In the matter of AT Air Group Pty Limited (in liq) [2012] NSWSC 1508

Supreme Court New South Wales

Medium Neutral Citation: In the matter of AT Air Group Pty Limited (in liq) [2012] NSWSC 1508 Hearing dates: 30 November 2012 Decision date: 07 December 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Parties to be heard further before orders are made. Catchwords: CORPORATIONS - Winding up - Corporations Act 2001 (Cth) s 477(2B) - Application for approval for entry into deed of assignment - Whether entry into deed of assignment is a proper exercise of power and not ill advised or improper on the part of the liquidator - Whether error of law or lack of good faith in liquidator's exercise of power - Application for release from undertakings given in support of an interlocutory order - Material change in circumstance since undertakings were given. Legislation Cited: - Corporations Act 2001 (Cth) Pt 5.3A, ss 477(2B), 553, 553C Cases Cited: - Adam P Brown Male Fashions Pty Ltd v Philip Morris Inc [1981] HCA 39; (1981) 148 CLR 170 - AT Air Group Pty Ltd [2012] NSWSC 774 - Ballard v Multiplex Ltd [2008] NSWSC 1019; (2001) 68 ACSR 208 - Barton v Atlantic 3 Financial (Australia) Pty Ltd [2004] QSC 376; (2004) 212 ALR 348 - Chen v Karandaris [2002] NSWCA 412 - Empire (Aust) Nominees Pty Ltd v Vince [2002] VSC 324; (2000) 34 ACSR 167 - Gye v McIntyre [1991] HCA 60; (1991) 171 CLR 609 - Johnson v Gore Wood & Co (2000) UKHL 65; [2002] 2 AC 1; [2001] 2 WLR 72 - Pitt-Owen v Lenin [2006] NSWSC 748 Re AT Air Group Pty Ltd [2012] NSWSC 774 Re McGrath & Anor (in their capacity as liquidators of HIH Insurance Ltd) [2010] NSWSC 404; (2010) 78 ACSR 405 - Venetian Nominees Pty Ltd v Conlan (1999) 17 ACLC 301 - VPlus Holdings Pty Ltd v Bank of Western Australia Ltd [2012] NSWSC 1327 Category: Interlocutory applications Parties: AT Air Group Pty Limited (in liq) (First Plaintiff) Ross Seller (Second Plaintiff) Aquatic Air Pty Ltd (Third Plaintiff) Avtex Air Services Pty Ltd (Fourth Plaintiff) Dieter Siewart (First Defendant) Liesolotte Siewart (Second Defendant) Heron Airlines Travel Pty Ltd (Administrator appointed) (Third Defendant) Wingaway Air Pty Ltd (in liquidation) (Fourth Defendant) Representation: Counsel: R.D. Marshall (Third and Fourth Plaintiffs) B. DeBuse (Defendants) Solicitors: Bartier Perry (Third and Fourth Plaintiffs) Marsdens (Defendants) C. Brown (Interested Parties) File Number(s): 12/169096